Operating net revenues increased 8 percent to $2.8 billion, driven by
strong fee-based business growth from client net inflows and increased
client activity, as well as market appreciation, which more than offset
the pressure from continued low interest rates. Excluding the impact of
continued low interest rates, operating net revenues grew 10 percent
compared to a year ago.

Operating expenses increased 7 percent to $2.3 billion reflecting
increased volume-related distribution expense, as well as higher expense
associated with the early retirement of debt. General and administrative
expenses increased 1 percent compared to a year ago reflecting the
company's ongoing expense discipline.

On a full-year basis, the company generated strong operating earnings
and revenue growth, driven by solid business fundamentals, including
record wrap net inflows, increased client activity, as well as strong
equity markets. Compared to 2012, operating net revenues grew 7 percent
to $10.9 billion, operating earnings grew 17 percent to $1.5 billion,
and operating earnings per diluted share increased 26 percent to $7.05.
At year end, total assets under management and administration were a
record $771 billion.

In the quarter, segment pretax operating earnings from Advice & Wealth
Management and Asset Management were $356 million, up 37 percent from
the year-ago period. For the full year, operating earnings from these
businesses were $1.3 billion, up 31 percent from the prior year. In the
quarter, these two businesses represented 57 percent of segment pretax
operating earnings(2).

In the quarter, the company returned $475 million to shareholders
through share repurchases and dividends. For the full year, $1.9 billion
was returned to shareholders.

"We had a very good quarter, and a terrific year," said Jim Cracchiolo,
chairman and chief executive officer. "Our advisory and asset management
businesses are leading our growth. Overall, assets are up significantly
across the firm and we have particular strength in our Advice & Wealth
Management business, with robust client net inflows and good growth in
advisor productivity."

"With the strong performance of the business and our high-quality
balance sheet, we returned 130 percent of our 2013 operating earnings to
shareholders and delivered record operating return on equity of 19.7
percent."

Net income from continuing operations attributable to Ameriprise
Financial

$

298

$

388

(23

)%

$

1,337

$

1,031

30

%

Adjustments, net of tax (1)

(see reconciliation on p. 11)

�

80

�

(21

)

�

123

�

214

Operating earnings

$

378

$

367

3

%

$

1,460

$

1,245

17

%

�

Earnings Per Diluted Share

Income from continuing operations

$

1.47

$

1.80

(18

)%

$

6.46

$

4.63

40

%

Adjustments, net of tax (1)

(see reconciliation on p. 11)

�

0.40

�

(0.09

)

�

0.59

�

0.96

Operating earnings

$

1.87

$

1.71

9

%

$

7.05

$

5.59

26

%

Weighted average common shares outstanding:

Basic

198.3

210.8

203.2

218.7

Diluted

202.3

215.1

207.1

222.8

�

(1) After-tax is calculated using the statutory tax
rate of 35%.

�

The company believes the presentation of operating earnings best
represents the economics of the business. Operating earnings, after-tax,
exclude the consolidation of certain investment entities; net realized
gains or losses; integration and restructuring charges; the market
impact on variable annuity guaranteed benefits net of hedges and related
deferred acquisition costs (DAC) and deferred sales inducement costs
(DSIC) amortization; the market impact on indexed universal life
benefits, net of hedges and related DAC amortization, unearned revenue
amortization, and the reinsurance accrual; and income or loss from
discontinued operations.

Overall, results in the quarter were strong and included $11 million, or
$0.05 per diluted share, of favorable impacts from the market impact on
DAC and DSIC and a $12 million, or $0.06 per diluted share, expense
associated with the early retirement of debt. In addition, other items
are discussed in more detail in the segment commentary, including a
favorable item in variable annuities that was largely offset by reserve
strengthening for auto and home.

Taxes

The fourth quarter 2013 operating effective tax rate was 27.2 percent
compared to 17.2 percent a year ago. The year ago quarter included a $16
million benefit from prior period adjustments. For 2013, the full year
operating effective tax rate was 27.7 percent. The company estimates
that its full year 2014 operating effective tax rate will be in the 28
to 30 percent range.

Fourth Quarter 2013 Business Highlights

Total assets under management and administration grew 13 percent from
a year ago to $771 billion driven by Ameriprise advisor client net
inflows and market appreciation.

Ameriprise advisor client assets grew 16 percent to a record $409
billion and total wrap assets increased 23 percent to $154 billion.
Wrap net inflows in the quarter remained strong at $2.8 billion.

At year-end, the number of four- and five-star funds from Columbia
Management increased to 54, while Threadneedle had 63 four- and
five-star funds.

The introduction of additional fund options for variable annuity
policyholders was well received, resulting in strong client asset
transfers into the managed volatility Portfolio Stabilizer series of
funds.

Excess capital was nearly $2 billion after repurchasing 3.5 million
shares of common stock in the quarter for $371 million and paying $104
million in quarterly dividends. The company also holds $500 million of
additional capital above required levels for variable annuity products.

The company redeemed $350 million face amount of senior notes due in
2015.

Asset Management margins continue to be strong. In the fourth quarter,
adjusted net pretax operating margin was 40.2 percent compared to 33.6
percent a year ago and 40.0 percent in the prior quarter. Full year 2013
adjusted net pretax operating margin was 37.8 percent compared to 34.6
percent for full year 2012.

Operating net revenues grew 11 percent to $824 million, primarily driven
by asset growth from market appreciation, performance fees at
Threadneedle, as well as a shift to higher fee retail assets at
Threadneedle, partially offset by the impact of net outflows.

Assets under management grew 10 percent to $501 billion, reflecting
market appreciation and $5.5 billion of net inflows in the quarter.
Retail net inflows of $4.5 billion reflected strong inflows at
Threadneedle while Columbia benefitted from a higher level of reinvested
dividends. Institutional flows reflected good traction in third-party
mandates that offset continued outflows from former parent company
influenced mandates and former parent company affiliated distribution.

�

Ameriprise Financial, Inc.

Annuities Segment Operating Results

�

(in millions, unaudited)

�

Quarter EndedDecember 31,

�

�

% Better/(Worse)

�

Year EndedDecember 31,

�

% Better/(Worse)

2013

�

�

2012

2013

�

�

2012

Annuities

�

Net revenues

$

658

$

636

3

%

$

2,583

$

2,524

2

%

Expenses

�

471

�

465

(1

)

�

1,897

�

1,957

3

Pretax operating earnings

$

187

$

171

9

$

686

$

567

21

�

VA pretax operating earnings

$

156

$

129

21

%

$

532

$

376

41

%

FA pretax operating earnings

�

31

�

42

(26

)

�

154

�

191

(19

)

Total pretax operating earnings

$

187

$

171

9

$

686

$

567

21

�

�

Quarter Ended December 31,

% Better/(Worse)

2013

�

2012

Items included in operating earnings:

Market impact on DAC and DSIC (mean reversion)

$

16

$

2

NM

Impact of variable annuity product changes

26

-

NM

Variable annuity liability model revision

�

-

�

43

NM

Total annuities impact

$

42

$

45

(7

)%

�

Variable annuity ending account balances (billions)

$

75.5

$

68.1

11

%

Variable annuity net flows (millions)

$

(275

)

$

(214

)

(29

)%

Fixed annuity ending account balances (billions)

$

13.3

$

13.8

(4

)%

Fixed annuity net flows (millions)

$

(292

)

$

(303

)

4

%

�

NM Not Meaningful - variance of greater than 100%

�

Annuities pretax operating earnings in the quarter increased 9
percent to $187 million compared to $171 million a year ago, reflecting
new business growth and market appreciation, partially offset by fixed
annuity spread compression.

During the quarter, the company added managed volatility fund options
(Portfolio Stabilizer) for its in-force variable annuities with living
benefit guarantees. These additional investment options have been well
received by policyholders, with sizable asset movement into the managed
volatility funds. The resulting earnings benefit in the quarter was $26
million and the asset shifts further enhance the product risk profile.

Protection pretax operating earnings declined 12 percent to $82
million, primarily from increased reserves for auto policies and higher
claim levels in life and health. Overall life and health claims
experience continued to perform well and was within expectations, albeit
at a higher level than a year ago. Based on auto liability claims
development, the company increased reserves by $20 million.

VUL/UL account balances grew 11 percent, driven by strong 16 percent
growth in life insurance cash sales for the year and market appreciation.

Auto and home premium growth remained steady, up 10 percent compared to
a year ago.

�

Ameriprise Financial, Inc.

Corporate & Other Segment Operating Results

�

(in millions, unaudited)

�

Quarter EndedDecember 31,

�

% Better/(Worse)

�

Year EndedDecember 31,

�

% Better/(Worse)

2013

�

2012

2013

�

2012

Corporate & Other

Net revenues

$

1

$

-

NM

$

(11

)

$

20

NM

Expenses

�

107

�

81

(32

)%

�

334

�

290

(15

)%

Pretax operating loss

$

(106

)

$

(81

)

(31

)

$

(345

)

$

(270

)

(28

)

�

�

Quarter Ended December 31,

% Better/(Worse)

2013

�

2012

Items included in operating earnings:

Debt retirement expense

$

(19

)

$

-

NM

Settlement with a third-party service provider

-

15

NM

�

NM Not Meaningful - variance of greater than 100%

�

Corporate & Other pretax operating loss was $106 million for
the quarter compared to an $81 million loss a year ago.�The current
quarter included a $19 million make whole expense associated with the
retirement of debt that will benefit earnings in future periods.

At Ameriprise Financial, we have been helping people feel confident
about their financial future since 1894. With outstanding asset
management, advisory and insurance capabilities and a nationwide network
of 10,000 financial advisors, we have the strength and expertise to
serve the full range of individual and institutional investors'
financial needs. For more information, or to find an Ameriprise
financial advisor, visit ameriprise.com.

Ameriprise Financial Services, Inc. offers financial planning services,
investments, insurance and annuity products. Columbia Funds are
distributed by Columbia Management Investment Distributors, Inc., member
FINRA and managed by Columbia Management Investment Advisers, LLC.
Threadneedle International Limited is an SEC- and FCA-registered
investment adviser affiliate of Columbia Management Investment Advisers,
LLC based in the U.K. Auto and home insurance is underwritten by IDS
Property Casualty Insurance Company, or in certain states, Ameriprise
Insurance Company, both in De Pere, WI. RiverSource insurance and
annuity products are issued by RiverSource Life Insurance Company, and
in New York only by RiverSource Life Insurance Co. of New York, Albany,
New York. Only RiverSource Life Insurance Co. of New York is authorized
to sell insurance and annuity products in the state of New York. These
companies are all part of Ameriprise Financial, Inc. CA License
#0684538. RiverSource Distributors, Inc. (Distributor), Member FINRA.

Forward-Looking Statements

This news release contains forward-looking statements that reflect
management's plans, estimates and beliefs. Actual results could differ
materially from those described in these forward-looking statements.
Examples of such forward-looking statements include:

the statement in this news release that the company expects its
full-year 2014 operating effective tax rate to be in the 28 to 30
percent range.

statements of the company's plans, intentions, positioning,
expectations, objectives or goals, including those relating to asset
flows, mass affluent and affluent client acquisition strategy, client
retention and growth of our client base, financial advisor
productivity, retention, recruiting and enrollments, the introduction,
cessation, terms or pricing of new or existing products and services,
acquisition integration, general and administrative costs,
consolidated tax rate, return of capital to shareholders, and excess
capital position and financial flexibility to capture additional
growth opportunities;

other statements about future economic performance, the performance of
equity markets and interest rate variations and the economic
performance of the United States and of global markets; and

statements of assumptions underlying such statements.

The words "believe," "expect," "anticipate," "optimistic," "intend,"
"plan," "aim," "will," "may," "should," "could," "would," "likely,"
"forecast," "on pace," "project" and similar expressions are intended to
identify forward-looking statements but are not the exclusive means of
identifying such statements. Forward-looking statements are subject to
risks and uncertainties, which could cause actual results to differ
materially from such statements.

Such factors include, but are not limited to:

conditions in the interest rate, credit default, equity market and
foreign exchange environments, including changes in valuations,
liquidity and volatility;

changes in and the adoption of relevant accounting standards and
securities rating agency standards and processes, as well as changes
in the litigation and regulatory environment, including ongoing legal
proceedings and regulatory actions, the frequency and extent of legal
claims threatened or initiated by clients, other persons and
regulators, and developments in regulation and legislation, including
the rules and regulations implemented or to be implemented in
connection with the Dodd-Frank Wall Street Reform and Consumer
Protection Act;

investment management performance and distribution partner and
consumer acceptance of the company's products;

effects of competition in the financial services industry, including
pricing pressure, the introduction of new products and services and
changes in product distribution mix and distribution channels;

changes to the company's reputation that may arise from employee or
advisor misconduct, legal or regulatory actions, perceptions of the
financial services industry generally, improper management of
conflicts of interest or otherwise;

the company's capital structure, including indebtedness, limitations
on subsidiaries to pay dividends, and the extent, manner, terms and
timing of any share or debt repurchases management may effect as well
as the opinions of rating agencies and other analysts and the
reactions of market participants or the company's regulators,
advisors, distribution partners or customers in response to any change
or prospect of change in any such opinion;

changes to the availability and cost of liquidity and the Company's
credit capacity that may arise due to shifts in market conditions, the
Company's credit ratings and the overall availability of credit;

risks of default, capacity constraint or repricing by issuers or
guarantors of investments the company owns or by counterparties to
hedge, derivative, insurance or reinsurance arrangements or by
manufacturers of products the company distributes, experience
deviations from the company's assumptions regarding such risks, the
evaluations or the prospect of changes in evaluations of any such
third parties published by rating agencies or other analysts, and the
reactions of other market participants or the company's regulators,
advisors, distribution partners or customers in response to any such
evaluation or prospect of changes in evaluation;

experience deviations from the company's assumptions regarding
morbidity, mortality and persistency in certain annuity and insurance
products, or from assumptions regarding market returns assumed in
valuing or unlocking DAC and DSIC or market volatility underlying our
valuation and hedging of guaranteed living benefit annuity riders, or
from assumptions regarding anticipated claims and losses relating to
our automobile and home insurance products;

changes in capital requirements that may be indicated, required or
advised by regulators or rating agencies;

the impacts of the company's efforts to improve distribution economics
and to grow third-party distribution of its products;

the ability to pursue and complete strategic transactions and
initiatives, including acquisitions, divestitures, restructurings,
joint ventures and the development of new products and services;

the ability to realize the financial, operating and business
fundamental benefits of strategic transactions and initiatives the
company has completed, is pursuing or may pursue in the future, which
may be impacted by the ability to obtain regulatory approvals, the
ability to effectively manage related expenses and by market, business
partner and consumer reactions to such strategic transactions and
initiatives;

the ability and timing to realize savings and other benefits from
re-engineering and tax planning;

interruptions or other failures in our communications, technology and
other operating systems, including errors or failures caused by third
party service providers, interference or failures caused by third
party attacks on our systems, or the failure to safeguard the privacy
or confidentiality of sensitive information and data on such systems;
and

general economic and political factors, including consumer confidence
in the economy and the financial industry, the ability and inclination
of consumers generally to invest as well as their ability and
inclination to invest in financial instruments and products other than
cash and cash equivalents, the costs of products and services the
company consumes in the conduct of its business, and applicable
legislation and regulation and changes therein, including tax laws,
tax treaties, fiscal and central government treasury policy, and
policies regarding the financial services industry and publicly held
firms, and regulatory rulings and pronouncements.

Management cautions the reader that the foregoing list of factors is not
exhaustive. There may also be other risks that management is unable to
predict at this time that may cause actual results to differ materially
from those in forward-looking statements. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of the date on which they are made. Management undertakes no
obligation to update publicly or revise any forward-looking statements.
The foregoing list of factors should be read in conjunction with the
"Risk Factors" discussion under Part 1, Item 1A of and elsewhere in our
Annual Report on Form 10-K for the year ended December 31, 2012
available at ir.ameriprise.com.

The financial results discussed in this news release represent past
performance only, which may not be used to predict or project future
results. The financial results and values presented in this news release
and the below-referenced Statistical Supplement are based upon asset
valuations that represent estimates as of the date of this news release
and may be revised in the company's Annual Report on Form 10-K for the
year ended December 31, 2013. For information about Ameriprise Financial
entities, please refer to the Fourth Quarter 2013 Statistical Supplement
available at ir.ameriprise.com and the tables that follow in this news
release.

�

Ameriprise Financial, Inc.

Reconciliation Table: Earnings

�

�

Quarter EndedDecember 31,

�

Per Diluted ShareQuarter EndedDecember
31,

(in millions, except per share amounts, unaudited)

2013

�

2012

2013

�

2012

Net income attributable to Ameriprise Financial

$

296

$

389

$

1.46

$

1.81

Less: Income (loss) from discontinued operations, net of tax

�

(2

)

�

1

�

(0.01

)

�

0.01

Net income from continuing operationsattributable to
Ameriprise Financial

(2) Operating return on equity excluding accumulated
other comprehensive income (AOCI) is calculated using the trailing
twelve months of earnings excluding the after-tax net realized
gains/losses; market impact on variable annuity guaranteed
benefits, net of hedges and related DSIC and DAC amortization; the
market impact on indexed universal life benefits, net of hedges
and related DAC amortization, unearned revenue amortization, and
the reinsurance accrual; integration/restructuring charges; and
discontinued operations in the numerator, and Ameriprise Financial
shareholders' equity excluding AOCI and the impact of
consolidating investment entities using a five-point average of
quarter-end equity in the denominator. After-tax is calculated
using the statutory tax rate of 35%.